Venture Global has entered a 20-year sales and purchase agreement (SPA) with Eni, the Italian energy company's first long-term contract with a US liquefied natural gas (LNG) producer. The agreement entails the purchase of two million tonnes per annum (mtpa) of LNG from Venture Global's CP2 LNG project.

Venture Global will supply 2 million metric tons a year of liquefied natural gas to Italian state-controlled energy group Eni , the two companies said on Wednesday.

Venture Global (NYSE:VG) said Wednesday it reached an agreement with Eni (E) for the purchase of 2M metric tons/year of liquefied natural gas for 2 years from the CP2 LNG project, in a deal that marks Eni’s first ever long-term agreement with an American LNG producer.